Over the past year, Blackhawk has successfully matched investors to borrowers in need of mortgage loans. When banks and other traditional lending institutions turn down a borrower, Blackhawk provides an excellent alternative. Blackhawk’s borrowers can receive financing for commercial real estate projects as well as investment properties within a short period of time with minimal hassle and a transparent process.
In February of 2013, Blackhawk launched their beta website and by June of the same year they had developed their own unique workflow system and its matching algorithms. Their peer investor database currently stands at a remarkable lending capacity of more than several billion dollars across the country. By the end of 2013, Blackhawk had funded close to $15,000,000 solely in commercial loans and also achieved a run rate of $60,000,000.
It is common knowledge that most banks abandoned the investment and commercial mortgage market, leaving a major funding gap that needed to be filled. Peer-to-peer lending is filling this gap to ensure that there is money available to fund prime projects in real estate. The borrower finds the money they need while the lender gets a substantial return for the money they lend. Additionally, the investment is low risk because Blackhawk’s P2P commercial notes are backed by real estate.
Many leading P2P lending platforms only offer loans that are unsecured, Blackhawk has taken a different route. With secured peer-to-peer commercial notes for transactions involving property, loans that the bank would otherwise reject are pre-qualified and at rates that any hard money lender will find extremely competitive. The lender on the other hand gets a higher rate of return than they would otherwise gain had they invested in CDs or money markets. The loans are low cost and the terms are rather flexible to the delight of the borrowers.
Blackhawk is pioneering a revolution in the finance industry. By cutting out the middleman and making lending a democratic process, they make the exchange process fast, easy, and friendly to borrowers. The borrower and lender interact directly online as the various loan requests are matched to investor profiles whose lending parameters they meet. With online documentation, due diligence, and educational resources available at the click of your mouse, the process is quick and straightforward for both the borrower and the lender. Peer-to-peer lending is a win – win situation for both sides of every loan transaction.